Silver March contracts also saw strong buying interest and climbed 1.36 per cent to Rs 1,95,466 per kg. Mumbai: Gold and silver prices rose sharply in early trade on Monday, supported by positive global cues and weakness in the US dollar. On the Multi Commodity Exchange (MCX)
SC restrains Maharashtra from breaching 50% quota ceiling in local body polls yet to be notified

The Supreme Court on Friday restrained the Maharashtra State Election Commission from exceeding the 50% reservations ceiling in local body elections that are yet to be notified, reported Live Law.
A bench of Chief Justice Surya Kant and Justice Joymalya Bagchi also stated that while it would allow the polls that have been notified to be conducted as per schedule, the result will be subject to the final judgement in petitions challenging the implementation of Other Backward Classes quota in the state's local bodies, according to Bar and Bench.
The court referred the matter to a three-judge bench and listed it for further hearing on January 21.
Local body elections in Maharashtra have been stalled since 2021 amid court proceedings about OBC reservations.
Appearing for the state election commission, advocate Balbir Singh told the court on Friday that elections to 246 municipal councils and 42 nagar panchayats are scheduled for December 2, with counting on December 3.
Of these, there are 40 municipal councils and 17 nagar panchayats where reservations are exceeding 50%, Singh said.
The ceiling on the reservation is also exceeding in two municipal corporations, the court noted.
Elections are yet to be notified in 29 municipal corporations, 32 zilla panchayats and 346 panchayat samitis, Singh told the court.
“Let the elections be held and results shall be subject to the outcome of these proceedings,” Bar and Bench quoted the court as saying. “Wherever reservation is not exceeding 50%, those results shall also be subject to the proceedings of this case.”
In December 2021, the Supreme Court stayed the OBC quota, holding that it could be implemented only after the state satisfied the “triple-tests” requirement laid down in earlier judgements.
The test requires state governments to establish a commission for empirical inquiry, determine proportional reservations based on findings and ensure that the quota for Scheduled Castes, Scheduled Tribes and Other Backward Classes together does not exceed 50%.
The 50% ceiling was set by the Supreme Court in the 1992 Indra Sawhney vs Union Of India ruling.
To meet the “triple test” requirement, the state constituted the Jayant Kumar Banthia Commission in March 2022.
The commission recommended a 27% OBC quota but said that it must remain within the overall 50% ceiling, Live Law reported.
As its report was challenged, the Supreme Court in August 2022 directed that the status quo be maintained.
In May 2023, the court allowed elections to be held with the OBC quota restored to the percentage that existed before the Banthia Commission's July 2022 report.
However, during last week's hearing, the bench verbally observed that state authorities appeared to have misconstrued this order as permitting reservations to breach the 50% cap.
The court clarified that this was not the case and that the ceiling continues to apply.
Source: Scroll
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Silver March contracts also saw strong buying interest and climbed 1.36 per cent to Rs 1,95,466 per kg. Mumbai: Gold and silver prices rose sharply in early trade on Monday, supported by positive global cues and weakness in the US dollar. On the Multi Commodity Exchange (MCX)
2 months ago